Ocean Protocol (OCN)

Overview

Ocean Protocol is an ecosystem for sharing data and associated services.

Project stage

Only a whitepaper

Detailed description

Ocean Protocol is an ecosystem for sharing data and associated services. It provides a tokenized service layer that exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements. There is staking on services to signal quality, reputation and ward against Sybil Attacks.

Ocean helps to unlock data, particularly for AI. It is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner.

The Ocean Protocol is an ecosystem composed of data assets and services, where assets are represented by data and algorithms, and services are represented by integration, processing and persistence mechanisms. Ocean Protocol facilitates discovery by storing and promoting metadata, linking assets and services, and provides a licensing framework that has toolsets for pricing.

A multitude of data marketplaces can hook into Ocean Protocol to provide “last mile” services to connect data providers and consumers. Ocean Protocol is designed so that data owners cannot be locked-in to any single marketplace. The data owner controls each dataset.

Problem

A lack of trust prevents data sharingCentralized data exchanges fail because they lack fair and flexible pricing mechanisms, data providers lose control over their assets, and there is a lack of transparency in how the data is used. So data remains locked up due to a lack of trust.

AI advances six times faster, when data is availableAI models have limited accuracy and usability without appropriate data.

Only a handful of companies today have both Data and AIAI start-ups and researchers are drowning in algorithms, but lack data. The opposite is true for many large corporations.

Solution

Ocean Protocol will unlock more data for AI. This should lead to more breakthroughs to help society. Ocean Protocol gives the tools to unlock the remaining 99% of untapped data.

Ocean Protocol is the bridge between two sides: Dara and AI. By bringing together data and AI, Ocean Protocol will unlock a trillion-dollar market for data sharing.

Features

Ocean helps to unlock data, particularly for AI. It is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner.

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Token details

Token symbol
? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. :OCN

Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 18,000,000 EUR

Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)

Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA

Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token

Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,410,000,000 OCN

Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No

Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :211,500,000 OCN

Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed

Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No

Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA

Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,

Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Cuba, Iran, North Korea, Syria, USA,

Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes

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